Wedbush Boosts Earnings Estimates for Equity Residential

Equity Residential (NYSE:EQR) – Wedbush increased their FY2024 earnings per share estimates for Equity Residential in a research note issued on Wednesday, November 6th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings per share of $3.89 for the year, up from their prior forecast of $3.88. Wedbush has a “Neutral” rating and a $75.00 price target on the stock. The consensus estimate for Equity Residential’s current full-year earnings is $3.88 per share. Wedbush also issued estimates for Equity Residential’s Q4 2024 earnings at $1.00 EPS.

Several other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group initiated coverage on Equity Residential in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $81.00 price target on the stock. Wells Fargo & Company lowered Equity Residential from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $69.00 to $77.00 in a report on Monday, August 26th. Bank of America lowered Equity Residential from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $78.00 to $82.00 in a report on Tuesday, September 24th. Piper Sandler lifted their target price on Equity Residential from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Equity Residential from $68.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $76.19.

Equity Residential Stock Up 0.5 %

EQR stock opened at $71.76 on Friday. Equity Residential has a fifty-two week low of $53.48 and a fifty-two week high of $78.83. The company has a market capitalization of $27.21 billion, a price-to-earnings ratio of 29.41, a price-to-earnings-growth ratio of 5.87 and a beta of 0.90. The business’s 50 day moving average price is $74.56 and its two-hundred day moving average price is $70.31. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.21 and a current ratio of 0.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQR. Norden Group LLC acquired a new position in shares of Equity Residential during the first quarter worth about $414,000. BI Asset Management Fondsmaeglerselskab A S grew its position in Equity Residential by 104.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,048 shares of the real estate investment trust’s stock valued at $319,000 after acquiring an additional 2,583 shares in the last quarter. Empowered Funds LLC grew its position in Equity Residential by 32.8% in the first quarter. Empowered Funds LLC now owns 5,620 shares of the real estate investment trust’s stock valued at $355,000 after acquiring an additional 1,389 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Equity Residential by 793.8% during the first quarter. SG Americas Securities LLC now owns 444,791 shares of the real estate investment trust’s stock worth $28,071,000 after purchasing an additional 395,029 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its stake in shares of Equity Residential by 72.2% in the first quarter. Illinois Municipal Retirement Fund now owns 116,790 shares of the real estate investment trust’s stock valued at $7,371,000 after purchasing an additional 48,975 shares during the period. Institutional investors and hedge funds own 92.68% of the company’s stock.

Equity Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, September 24th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend was Tuesday, September 24th. Equity Residential’s dividend payout ratio (DPR) is 110.66%.

Equity Residential Company Profile

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.